Economy & Business

Business news

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Kai Ryssdal

There's finally a price tag on the amended American Health Care Act that was passed by the House of Representatives almost three weeks ago. The report from the Congressional Budget Office is sort of like the report card for the bill. It explains what it’s going to do and how much it’s going to cost.

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Kai Ryssdal

Arguably no company has done more for the cause of digital money than PayPal. But after Venmo, where does PayPal take our money next? And more importantly, how does it keep that money safe? Marketplace host Kai Ryssdal spoke to PayPal CEO Dan Schulman and got some answers about cybersecurity and the digitization of money. An edited transcript of their conversation is below. 

Trump's NATO visit is going to be awkward

May 24, 2017

President Trump has arrived in Brussels on the latest leg of his first official foreign trip since his election. Apart from meeting European leaders, he will visit NATO’s shiny new headquarters in the Belgian capital. This could be a tricky visit. During the election campaign, Trump was not overly complimentary about the alliance.

Click the audio player above to hear the full story.

Education Secretary Betsy DeVos was on the Hill today defending the president’s 2018 budget request before a House appropriations subcommittee. The White House has proposed cutting or shrinking more than 30 federal education programs, shaving more than 13 percent off the overall budget. That’s the biggest proposed cut to the department’s discretionary funding since the Reagan administration. And there’s a lesson in that history about the reality of presidential budgets.

Click the audio player above to hear the full story.

Mobile banking could ruin retail, or save it

May 24, 2017

Venmo. Bitcoin. If there's one company that's become synonymous with digital money, it's PayPal. On this episode of the Corner Office, Marketplace host Kai Ryssdal spoke with Dan Schulman, the who became CEO of PayPal in 2014. They talked about the future of digital money, how PayPal keeps closes tabs on its users in order to prevent fraud and how mobile banking could change the landscape of small businesses. According to Schulman, mobile banking may not destroy brick-and-mortar stores but re-envision them.  

The Fox News Channel has retracted a week-old story based on a groundless conspiracy theory involving the death of a staffer for the Democratic National Committee, conceding it did not meet the network's standards.

How health care is healing Erie's ailing economy

May 24, 2017
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Erika Beras

Like a lot of people in Erie, Marc Bryant spent decades in manufacturing. He was an engineer at Hammermill Paper, which became International Paper. And then the mill closed in 2002. Bryant said some of his co-workers retired. Others, “honestly, ended up on a bar stool somewhere complaining about how things were bad until their benefits ran out,” he said.

And the rest did what he did.

“I elected to, at the age of 48, take a leap of faith and go back to college,” he said.

05/24/2017: The CBO has spoken

May 24, 2017
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Marketplace

The Congressional Budget Office released its analysis of the American Health Care Act today. That's the revised version, passed by the House already. The CBO says this bill will leave 23 million people without insurance by 2026, while reducing the deficit by $119 billion. The last version scored by the CBO came out to a million more uninsured, but a steeper deficit reduction. We'll get some initial analysis from Vox's Sarah Kliff. Then, we'll return to Pennsylvania for our series The Big Promise, exploring how health care is propping up Erie's faltering manufacturing economy.

Metro Milwaukee continues to rank last in the country when it comes to the unemployment gap between black and white residents. According to the annual report the Urban League issues, unemployment among blacks here is nearly 14 percent, while the rate for whites is under 3 percent. It’s the second year in a row the area has the widest gap in the nation.

The Congressional Budget Office is set to release its assessment of the GOP's new health care bill this afternoon. The CBO estimated 24 million would lose health insurance under the first draft of this plan. We'll examine whether fewer people will lose coverage under the most recent proposal. Afterwards, we'll discuss a downgrade in China's creditworthiness, and look at how the country's new fiduciary rule works. 

Today, more Americans graduate high school and go on to college than ever before. But as the country becomes more diverse — the Census Bureau expects that by 2020 more than half of the nation's children will be part of a minority race or ethnic group — are colleges and universities ready to serve them?

OPEC nations meet this week to discuss cuts to oil production, as prices for crude remain in a slump. Price volatility, changes to car technology, and other major uncertainties are leading to widely divergent views on the future of oil – namely, whether the world will see a peak in demand anytime soon.

Click the audio player above to hear the full story.

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Libby Denkmann

Ashley Williams' ambition to become a lawyer has a lot to do with her experience as a kid in foster care.

“I want to be a lawyer because when I grew up in the foster care system, I didn’t have many lawyers who could advocate for me,” Williams said. “I figure I want to help other youth.”

Williams said she moved around to 36 foster homes and 26 schools after she entered the system at 10 years old.

“Education was just what kept me going,” she said. “I loved being in school.”

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Marketplace

Moody's Investors Service has just reduced China's credit rating by a notch. We'll explore how significant this downgrade is and the economic factors that warranted the drop. Afterwards, we'll take a look at the challenges that those from the foster care system face when trying to attend college. 

The Congressional Budget Office will release its assessment, or “score,” of the House GOP’s revised health plan this afternoon. When the first draft was released back in March, the CBO estimated 24 million people would lose health insurance under that plan. Among the questions are, will this revised plan cover more people than the last one and is more actually better?

 Click the audio player above to hear the full story.

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